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Crude MCX Trading Range 2170 to 2330

Crude MCX Trading Range 2170 to 2330

Gold Silver Reports → Crude oil may move in range of 2170-2230. Crudeoil settled with a gain on Wednesday, finding support from a weekly decline in U.S. crude production, as strong demand for gasoline pointed to a possible rise in demand for oil to make the fuel. U.S. Energy Information Administration reported a 3.5 million-barrel climb in crude-oil supplies for the week ended Feb. 19. That was below the 7.1 million-barrel increase reported by the American Petroleum Institute on Tuesday. U.S. gasoline demand over the past four weeks rose more than 5 percent compared with a year ago, and inventories of the motor fuel also slid from record highs on lower refinery runs.

Natural gas may trade in range of 120-128 as EIA weekly inventory data to give further direction to the prices. → Neal Bhai Reports

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